US Pot Stocks For Q1 2022
Are you looking for the best marijuana stocks to buy in 2022? In the US the delays with federal cannabis legalization and reform brought down most of the sector last year. But because this year many top cannabis stocks are starting the year near their 52-week lows they could be ready to see upside in the first quarter. In general, many leading cannabis companies reported strong earnings and revenue growth in 2021.
Additionally, after the pandemic, these cannabis companies expanded rapidly using M&As to build a faster footprint. Now as the top tier MSOs continue to be the best performing cannabis companies, they could be some of the best pot stocks of 2022. In the first quarter of 2022 one major catalyst that could create some upside for top marijuana stocks is the passing of any form of federal cannabis legalization.
During 2021 every attempt by the House to pass cannabis reform was knocked down in the Senate. But with 2022 elections around the corner, we may see the end of prohibition or pass cannabis banking reform this year. Because of recent declines in December 2021, many top cannabis stocks could begin trading on earnings and strong revenue growth. This is another factor investors did not see last year because pot stocks seemed to only see upside with the mention of cannabis legalization.
Finding The Best Marijuana Stocks For 2022 Upside
Before investing in top cannabis stocks, it’s important to do your own research on a company. Looking into a company’s financials and studying how the stock moves in the market can help you produce the best returns on your investments. One-way investors keep an eye on possible investments is by making a watchlist of the best marijuana stocks to buy for 2022. Because cannabis stocks are known for substantial market volatility a good entry point is important for your investment in the cannabis sector. As we start the first week of trading of 2022 let’s look at 2 of the best marijuana stocks for your watchlist right now.
[Read More] Top 10 Marijuana Stocks For Your 2022 Watchlist
Top US Marijuana Stocks For Your January 2022 Watchlist
Trulieve Cannabis Corp.
Trulieve Cannabis Corp. is a high-performing cannabis company with the largest presence in Florida, with a market share of around 46%. On December 8th, the company opened its 112th dispensary in the state. Harvest Health & Recreation Inc. was acquired, and in 2021, the company is forecast to earn over $1.2 billion in sales. The company is presently the industry leader in the United States, with 158 retail dispensaries. In addition, the company has a 3.5 million square foot cultivation and processing capacity. In Georgia, Trulieve has been given a production license, allowing the company to extend its presence in the Southeast cannabis market. Furthermore, the company opened its first dispensary in Massachusetts, laying the groundwork for future expansion.
President Steve White, Vice President and General Counsel Nicole Stanton, Director of Investor Relations Christine Hersey, and Senior Director of Corporate Communications Rob Kremer were among the executive appointments made by Trulieve to close out 2021. In November, Trulieve released its third-quarter 2021 results, marking the company’s 15th consecutive profitable quarter. The company’s net sales increased by 64% to $224.1 million over the previous year. As a result, Trulieve made a gross profit of $153.9 million, with a gross margin of 68.7%. The adjusted EBITDA for the company was $98 million, or 43.7 percent of revenue. In West Virginia, the company launched its first agricultural endeavors and opened its first dispensaries.
TCNNF Stock Performance
TCNNF stock closed on December 31st at $26.01 down 30.64% in the past six months. Currently, the stock has a 52-week price range of $23.10-$53.73 and is down 17.74% year to date. According to analysts at CNN Business TCNNF stock has a 12-month median price target of $64.84 per share. This forecast represents an upside of 149.28% from its last trading price of $26.01.
Verano Holdings Corp.
Verano Holdings is one of the country’s largest multi-state cannabis enterprises, offering clients legal cannabis goods. In general, the company creates high-quality cannabis products under several brand names. Verano, for example, operates 90 dispensaries in 11 states and has 12 growing and processing facilities. The company has 41 dispensaries in Florida, providing it a substantial presence in the state. By 2021, Verano intends to open more than 92 dispensaries. The company’s retail brands, Zen LeafTM and MÜVTM operate dispensaries that cater to both therapeutic and adult-use customers. The company opened a drive-through dispensary on Flamingo Road in Las Vegas in October. In December Verano closed the acquisition of Carin Nature, LLC and Pharmaceutical Solutions, Inc which has active dispensaries in Connecticut.
TerraVida and The Healing Center were also a recent acquisition by Verano. Verano already owns six dispensaries in Pennsylvania and has the approval to open three more because of the purchase. The company established a flagship dispensary with a four-lane drive-through in Pittsburgh earlier this year. The business reported third-quarter 2021 sales of $207 million in November, up 106 percent from the previous year. Furthermore, on an unadjusted basis, gross profit climbed by 33% sequentially to $133 million, or 64% of revenue. Verano increased its footprint in Q3 by launching seven new dispensaries throughout its primary areas.
VRNOF Stock Performance
VRNOF stock closed at $12.58 on December 31st up 15.20% in the past month. At the present time, the stock has a 52-week price range of $9.68-$28.00 and is down 22.58% in the past six months. According to analysts at Tip Ranks VRNOF stock has a 12-month average price target of $32.32 per share. In this case, this would represent an increase of 156.92% from its last trading price of 12.58. As we start a new year these could be some of the best marijuana stocks to buy in 2022.